Meg Saksida reviews the most important changes that affect the self-employed in 2020.
Whether it is a result of the Covid-19 pandemic or planned legislative changes, there have been a number of changes to taxing the self-employed (SE) since 6 April 2020.
Government coronavirus pandemic measures
The government has introduced several measures to address the Covid-19 crisis, including a four-week extension from 26 March 2020 for the filing of self-assessment returns for the tax year 2018/19. This allows SE individuals to give HMRC the information required to allow them to enter into the self -employed income support scheme (SEISS).
This scheme gives up to £2,500 a month to make up for lost SE earnings, subject to conditions. If the business has employees, there are